Bitcoin’s meteoric climb back to $97,000 has caught the attention of investors flocking to BlackRock’s spot Bitcoin ETF, marking an impressive 16-day streak of inflows. As of today, the BlackRock iShares Bitcoin Trust (IBIT) has seen an influx of 280 BTC, roughly pegged at $36 million, just yesterday. This surge, totaling nearly $5 billion in new capital, underscores a significant shift in market sentiment towards Bitcoin.
BlackRock’s Inflow Streak and Market Impact
Nate Geraci, President of ETF Store, highlighted the remarkable pace at which IBIT has amassed capital, noting on social media platform X, “I remember when naysayers didn’t think spot Bitcoin ETFs would take in $5 billion in total last year.” His observations reflect a broader market enthusiasm that sees the cryptocurrency defying previous skepticism. This aligns with recent market trends, as detailed in Bitcoin Surges Past $94,000 as Institutional Interest and Market Optimism Grow.
Since April 9, the fund has garnered about $4.7 billion, making it the only spot Bitcoin ETF in the United States to report inflows this week. Other funds have either seen outflows or stagnation since May began. Interestingly, on May 6, the market experienced an aggregate outflow of $86.4 million, primarily due to Grayscale’s GBTC shedding nearly $90 million. This shift effectively counterbalanced BlackRock’s gains.
Eric Balchunas, an ETF analyst at Bloomberg, remarked on the long-term implications of this trend, suggesting that Bitcoin ETFs could potentially triple gold ETFs in assets under management over the next three to five years. This optimism is fueled by the growing acceptance and strategic positioning of Bitcoin in portfolios previously dominated by traditional assets.
A Broader Context: Regulatory Moves and Market Sentiment
The resurgence of Bitcoin prices to $97,500 also coincides with geopolitical and regulatory developments. Notably, New Hampshire has become the first U.S. state to pass strategic Bitcoin reserve legislation. Dennis Porter, co-founder and CEO of the Satoshi Action Fund, noted the significance of this move, stating it dramatically increases the likelihood of similar legislation across other states. For more on the geopolitical factors influencing Bitcoin’s rise, see Bitcoin Jumps Above $97K as Traders Optimistic U.S.-China Trade Deal Possible.
This legislative momentum, paired with reports of upcoming high-level trade talks between the United States and China, has buoyed market sentiment. Treasury Secretary Scott Bessen’s comment on the need for fair trade, rather than decoupling, adds another layer of optimism to the market’s outlook.
The Road Ahead
Despite the bullish run, Bitcoin’s price struggled to maintain its peak, retreating to $96,538 at the time of writing. This resistance level, revisited from May 2, poses a question mark on whether current momentum can sustain further price advancements.
In related developments, the financial landscape is set to diversify further. BattleShares has filed for four new ETFs aimed at contrasting Bitcoin with Ethereum and gold, adopting a mix of long and short positions. Balchunas humorously suggested the ticker “MAXI” for a proposed ETF going long on Bitcoin while shorting Ether, highlighting the innovative approaches being explored in the ETF space.
As we move forward, the interplay between regulatory developments, investor sentiment, and geopolitical factors will likely dictate Bitcoin’s trajectory. The market’s current dynamics suggest a blend of cautious optimism with the potential for significant shifts as new legislative and financial instruments come into play.
In sum, BlackRock’s ETF inflows are not just a testament to Bitcoin’s growing allure but also an indicator of broader market changes. However, the path ahead remains fraught with challenges and opportunities, as stakeholders navigate an evolving landscape in the world of cryptocurrency.
Source
This article is based on: BlackRock Bitcoin ETF clocks 16 days of inflow as BTC reclaims $97K
Further Reading
Deepen your understanding with these related articles:
- Bitcoin Surpasses $95K Amid Resilient U.S. Stocks, Analysts Voice Concerns Over Market Perception (openai)
- Bitcoin ETFs, gov’t adoption to drive BTC to $1M by 2029: Finance Redefined
- Why Grayscale’s Bitcoin Trust still dominates ETF revenue in 2025
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
